Welcome to CCM's TiO2 China Monthly Report 1109.
China sees relatively stable economic growth under continuing high inflation. In August 2011, China's CPI decreased to 6.2% year on year, while PMI increased by 0.2% to 50.9.
Domestic TiO2 prices continue to decrease in Sept. 2011, but the weak sales status changes little. The average price of rutile TiO2 drops to USD3,125/t (RMB20,000/t) by mid-September and may fall further later in this month.
In order to promote the energy-saving and emission-reduction program, Ministry of Industry and Information Technology (MIIT) of China issued clean production technology promotion scheme (the scheme) for five industries (including TiO2 industry and coating industry) on 16 August 2011.
In the coating market, traditional wall insulation coatings lose market share significantly, while nano-coatings spring up, in line with the advocacy of environmental protection. Meanwhile, Jotun COSCO starts the construction of a new marine coating project to meet the growing demand in China.
Exchange rate in Sept. 2011:
USD1=RMB6.39=EUR0.72
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